MBS ALERT: Rates Extend Losses After Housing Data

The rates market is extending early session losses thanks to a better than expected Existing Home Sales print.

The 3.375 coupon bearing 10yr TSY note is -0-18 at 96-29 yielding 3.754%.

The FN 4.0 is -0-17 at 97-01 yielding 4.288% and the FN 4.5 is -0-14 at 100-03 yielding 4.499%. The secondary market current coupon is 4.495%.

LENDERS WHO HAVE ALREADY PUBLISHED PRICING MAY REPRICE FOR THE WORSE

(HINT: THINK STAGECOACH)

PS...HELLO PARNERTIA!